IBM’s Asia-Pacific operations have outperformed all other regions in the vendor’s first quarter financial results.
Across the board, IBM reported a rise in net income of 13 per cent to $US2.6 billion for the three months to 31 March over the same period a year ago. Revenues also shot up 5 per cent to $US22.9 billion.
In the Asia-Pacific, revenues increased 10 per cent (adjusted to 1 per cent for currency changes) to hit $US5.3 billion.
In contrast IBM’s Americas’ operations achieved a revenue rise of two per cent (flat when adjusted for currency changes) to $US9.5 billion, while Europe, the Middle East and Africa rose five per cent (down two per cent on currency adjustments) to $7.6 billion.
A spokesperson for IBM Australia declined to offer more information or comment on the company’s performance in the domestic market. Like other multi-national vendors, IBM does not break down its financial results by country; only by geographic region.
However, from a regional perspective Big Blue’s performance mirrors that of HP’s results reported in February.
For the quarter ending 31 January 2010, HP’s revenue growth in the Asia-Pacific almost tripled that of all other regions. The region achieved a gain of 26 per cent on the same period in 2009 bringing in $US5.4 billion.
In contrast, in the Americas revenue was up 9 per cent year on year to $US13.6 billion and Europe, the Middle East and Africa (EMEA) rose just one per cent to $US12.1 billion.
Looking forward, IBM also raised its full-year earnings guidance for fiscal 2010 to at least $11.20 per share.
Year-on-year global results by IBM business unit for the quarter ending 31 March, 2010:
- Software license sales grew 11 per cent to $US5 billion
- WebSphere middleware products revenue grew 13 per cent
- Tivoli management software revenue jumped 23 per cent
- Lotus collaboration software revenues increased by one per cent
- Total services revenues rose 4 per cent to $US13.7 billion.
- Revenue for the Systems and Technology division was up 5 per cent to $US3.4 billion, helped by a 36 per cent jump in System x sales
- System z mainframe and Power system revenues both fell 17 per cent
The full results can be read on IBM’s website.
Additional reporting by IDG News Service’s Chris Kanaracus